“Can Careem Pay become the default digital financial services layer for the MENA super-app economy by combining a UAE-licensed wallet, P2P transfers, and international remittances within a daily-use consumer platform?”
Careem was founded in 2012 as a ride-hailing platform for the Middle East and was acquired by Uber in 2019. Beginning in 2022, Careem pivoted toward becoming an 'Everything App' for the MENA region, launching Careem Pay as a licensed digital wallet and P2P payment service embedded within its super-app. In April 2023, e& (Emirates Telecom Group) acquired the super-app division, separating it from the Uber-owned ride-hailing assets. Careem Pay has since scaled into international remittances, leveraging Adyen as its core payments infrastructure partner.
Careem Pay discloses First Abu Dhabi Bank (FAB) as its banking provider, according to the Embedded Finance Index 2026.
Careem Pay does not disclose a bank charter of its own; its banking services are provided through First Abu Dhabi Bank (FAB).
Careem Pay processes payments through Adyen and Checkout.com.
Careem Pay uses Adyen for FX and cross-border payouts.
The Embedded Finance Index 2026 maps 4 layers in Careem Pay's stack: Payments / PSP (Adyen and Checkout.com); Banking / BaaS (First Abu Dhabi Bank (FAB)); Sponsor bank (First Abu Dhabi Bank (FAB)); FX & payouts (Adyen).
Careem Pay is founded in 2012 and headquartered in Dubai, United Arab Emirates.
Careem Pay has raised $773.4M in total (latest round: Acquired by e& (Emirates Telecom Group), April 2023; valuation: $3.1B (Uber acquisition, 2019)).
Get a read on where your own stack stands against Careem Pay and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.